The Hardest Hit Fund was implemented months ago as a way to offer assistance to states so that they can provide programming to individual homeowners who may have been particularly troubled by the current economic conditions and the previous downturn which left many jobless and has caused the devaluation of homes across the nation. However, there is concern as some states have yet to implement these programs.
Numerous programs which are proposed by states that received funding from the Hardest Hit Program could offer a wide range of assistance opportunities for homeowners who need to become current on their mortgage, deal with their underwater home loan situation, combat troubles associated with unemployment, or relocate to an alternative living arrangement.
However, there are some states which have not fully implemented these programs, but plans are set to begin by early 2011 in areas where limited assistance may be offered or no state-specific plans have been set in place at the current time.
Some state housing agencies are simply not in a position to begin offering these assistants plans simply because they may not have their offices established or a staff which can help homeowners adequately. Yet, there is still frustration on the part of homeowners who say that these housing agencies stand to help numerous homeowners in various states with these additional mortgage assistance opportunities, but the longer they wait the greater the number of homeowners who may miss out on foreclosure prevention aid.
There are those who feel that with federal mortgage assistance plans available, mortgage servicer-direct modifications on the rise, and these state-specific home loan assistance plans in place, more homeowners may find affordability in their mortgage payment and avoid the loss of their home. Yet, with continued foreclosures and homeowners slipping behind on their mortgage payment obligations, there are those who feel that organizations implementing these assistance plans must rejuvenate their efforts if they are to prevent further difficulties in the housing market.